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How do firms capture value from environmental innovations? An empirical analysis on European SMEs

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  • Nicoletta Corrocher
  • Ilaria Solito

Abstract

How do SMEs exploit their environmental innovations on the market? This paper aims at exploring the factors affecting the choice of alternative green innovation strategies. It looks, in particular at the adoption of Environmental Management System (EMS) vs. green patents, and at the possible implementation of a bundle of the two, and investigates the role of sectoral characteristics in shaping firms’ strategic decisions. Relying upon a sample of 8797 European SMEs, we study the factors associated with the adoption of one or more strategies to capture value from green innovations. Results show that both firm characteristics – size and innovative activity – and sectoral specificities in terms of output tangibility, knowledge intensity and consumer vs. business orientation, matter in the adoption of different green innovation strategies.

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  • Nicoletta Corrocher & Ilaria Solito, 2017. "How do firms capture value from environmental innovations? An empirical analysis on European SMEs," Industry and Innovation, Taylor & Francis Journals, vol. 24(5), pages 569-585, July.
    • Handle: RePEc:taf:indinn:v:24:y:2017:i:5:p:569-585
    DOI: 10.1080/13662716.2017.1302792
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    2. John Enrique Sánchez Otero & Jaider Manuel Vega Jurado & Joaquín Alegre Vidal, 2023. "Factors that Influence the Development of Innovations with a Social Focus in the Firm: A Systematic Literature Review," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 24(3), pages 341-360, September.
    3. M. Isabella Leone & Paola Belingheri, 2017. "The relevance of Innovation for Ethics, Responsibility and Sustainability," Industry and Innovation, Taylor & Francis Journals, vol. 24(5), pages 437-445, July.
    4. Francesco Aiello & Paola Cardamone & Lidia Mannarino & Valeria Pupo, 2019. "Firm Ownership And Green Patents. Does Family Involvement In Business Matter?," Working Papers 201904, Università della Calabria, Dipartimento di Economia, Statistica e Finanza "Giovanni Anania" - DESF.
    5. Chu, Zhen & Cheng, Mingwang & Yu, Ning Neil, 2021. "A smart city is a less polluted city," Technological Forecasting and Social Change, Elsevier, vol. 172(C).
    6. Rosalia Castellano & Gennaro Punzo & Giuseppe Scandurra & Antonio Thomas, 2022. "Exploring antecedents of innovations for small‐ and medium‐sized enterprises' environmental sustainability: An interpretative framework," Business Strategy and the Environment, Wiley Blackwell, vol. 31(4), pages 1730-1748, May.
    7. Yi Wang & Junke Feng & Nosheena Yasir & Yu Bai, 2022. "The Impact of Political Incentives Received by Key Local Officials on Enterprises’ Green Innovations for the Development and Construction of Ecological Civilization in China," Sustainability, MDPI, vol. 14(18), pages 1-24, September.
    8. Lahcene Makhloufi & Abderrazak Ahmed Laghouag & Tang Meirun & Fateh Belaid, 2022. "Impact of green entrepreneurship orientation on environmental performance: The natural resource‐based view and environmental policy perspective," Business Strategy and the Environment, Wiley Blackwell, vol. 31(1), pages 425-444, January.

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